Indian Rupee Advances To 4-day High Vs U.S. Dollar As Govt Notifies FDI

Indian Rupee Advances To 4-day High Vs U.S. Dollar As Govt Notifies FDI

United States Dollar vs Indian R (FX:USDINR) Forex Chart

3 Years : From Mar 2012 to Mar 2015

The Indian rupee continued gains against the U.S. dollar in late morning deals on Friday after the government's notification allowing foreign investment in multi-brand retail, aviation and broadcast.

Falling oil prices, speculation that price of levy sugar will be increased and reports that the government is considering easing FDI norms for a few other sectors, including pharmaceuticals also helped lift investor sentiment.

The rupee rallied to a 4-day high of 53.8610 against the greenback with 53.00 seen as the next resistance level. The greenback-rupee pair closed yesterday's deals at 54.2605.

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